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Twelve Labs raises USD 50 million in Series A funding for research and development and team expansion
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Jun 4, 2024
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Foundation Models

Jun 4, 2024

Twelve Labs raises USD 50 million in Series A funding for research and development and team expansion

Funding

  • Twelve Labs, a startup that develops AI models to understand videos, has raised USD 50 million in Series A funding. The round was co-led by New Enterprise Associates (NEA) and NVentures, NVIDIA's venture capital arm, with participation from Index Ventures, Radical Ventures, WndrCo, and Korea Investment Partners.

  • The company plans to use the funding for research and development and expand the headcount by adding more than 50 employees by the end of the year.

  • Twelve Labs offers video understanding through multimodal AI models that comprehend the visual, audio, and textual components of videos. Its proprietary Pegasus-1 model is trained on 300 million videos and 1 billion images with text descriptions and can map visual, audio, and speech components within videos to human language.

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